Chapter 2

Question 1

Assessment maps sometimes referred To as appraisal, ownership or tax maps

Answer 1

Cadastral maps

Question 2

Lines, measurements and identifiers

Answer 2

Map information

Question 3

The relationship of linear distance of the map to linear distance on the ground

Answer 3

Map Scale

Question 4

Areas in which parcels are several hundred to thousands of acres

Answer 4

1”=1,000

Question 5

Rural areas in which parcels are greater than 1 acre and may Be several hundred acres

Answer 5

1”=400

Question 6

Suburban areas and small towns with few small lots and fort subdivisions with frontage of 109 feet or more

Answer 6

1”=200

Question 7

Urban areas in which the Typical lot frontage is at least 50 feet a d detailed information is not required

Answer 7

1”100

Question 8

Necessary for congested urban areas

Answer 8

1”=50

Question 9

Computerized mapping systems can be classified as

Answer 9

Computer assisted drafting CAD

Question 10

Stores land I found in a computer database

Answer 10

GIS technology

Question 11

Cadastral map maintenance can be separated into two types

Answer 11

Systematic and general

Question 12

Six desirable characteristics recommended for parcel identification system

Answer 12

Uniqueness 
Permanence
Simplicity 
Ease of maintenance 
Flexibility 
Reference to geographic location

Question 13

Metes meaning

Answer 13

Measurements

Question 14

Bounds meaning

Answer 14

Boundaries

Question 15

Discrepancies from both causes are concentrated along the west and north of

Answer 15

Township

Question 16

Means of describing proper by numbered list

Answer 16

Platted subdivision

Question 17

Land that is developed to the extent that it is ready for its intended use and is referred to as a site

Answer 17

Improved land

Question 18

Implies that the market value of property depends on future potential use rather than current use alone

Answer 18

Concept of highest and best use

Question 19

Appraisal principles important in land valuation

Answer 19

Supply and demand
Surplus activity
Change
Anticipation

Question 20

The most significant physical factors is

Answer 20

Location

Question 21

The first step in the analysis of sales and other market data for land

Answer 21

Stratification

Question 22

Site specific data primary to the appraiser

Answer 22

Frontage
Width
Depth
Shape
Area
Topography 
Soil and subsoil
Off site improvements

Question 23

Units if comparison

Answer 23

Front foot
Square foot
Acre
Site
Units

Question 24

The sale price adjustments are always applied to the

Answer 24

Comparable property not the subject

Question 25

Adjustment techniques this method utilizes

Answer 25

Lump sum dollar adjustment

Question 26

Order of adjustments

Answer 26

Real property rights conveyed Financing terms Conditions of sale Expenditures made immediately after the purchase Market conditions Location  Physical characteristics Economic characteristics Legal characteristics Non Realty components

Question 27

Determine the amount of adjusts for changing market conditions

Answer 27

Time adjustment

Question 28

Estimate the adjustment for

Answer 28

location and physical characteristics

Question 29

Based on principle of balance , which states that there is a sense of proportion in the four agents if production

Answer 29

Allocation

Question 30

Abstraction formula

Answer 30

S-IV=LV Sale price - improvement value =Land value

Question 31

Site/land valuation method: Views the land in transition in the same manner a developer would view it should he or she wish to produce it for development

Answer 31

An appraiser

Question 32

Merging of adjacent properties into one common ownership

Answer 32

Assemblage

Question 33

Four factors affecting land values are

Answer 33

Physical Economic Governmental Social

Question 34

Principle state that returns to land are what remain after returns to labor, management and capital are satisfied

Answer 34

Surplus productivity

Question 35

Six methods of land valuation

Answer 35

``` Sales comparison Allocation Abstraction Anticipate use it development Capitalization of ground rent Land residual capitalization ```

Question 36

The practice of measuring the direction of property lines with compass bearings and the distance with measuring chains or tapes in order to obtain a property description is known as

Answer 36

Metes and bounds

Question 37

A township in the public land survey system contains how many sections? Each section containing how many acre?

Answer 37

36 | 640

Question 38

When land is valued by using the direct sales comparison approach, sales must first be _________into homogeneous groups

Answer 38

Stratified

Question 39

Improvements such as streets and sidewalks and the availability of utilities are considered ________ improvements

Answer 39

Off site

Question 40

Which method of land valuation compares the being appraised to comparable vacant parcels that have recently sold?

Answer 40

Sales comparison method

Question 41

In the direct sales comparison approach to land valuation, adjustments are always made to the _________ property never the _________ property

Answer 41

Comparable | Subject

Question 42

If a comparable lot that sold is superior in some aspect to the subject list, a _________adjustment would be made to the comparable property

Answer 42

Negative

Question 43

A method of valuing land that subtracts the depreciated value if the improvement from the sale price is known as __________

Answer 43

Abstraction

Question 44

The preferred method of valuing land if adequate data are available is the

Answer 44

Direct sales comparison method

Question 45

The property account number linking ownership records tax maps and assessment records is known as the

Answer 45

Parcel indemnifier

Question 46

Land that has been developed to the extent that is ready to be built upon is considered a

Answer 46

Site

Question 47

Factors affecting land values such as size topography and location are termed

Answer 47

Physical factors